21:06 UTC
Downtrend, momentum fading near lows · RSI 41 · price 56.241
Lower highs / lower lows, stabilising at YTD lows.
Multi-month downtrend intact: silver has bled from the ~89 peak in early March to a fresh YTD low at 54.77, printing a clean chain of lower highs and holding below a falling EMA(50). The last four sessions have stalled and stabilised in the 55.00–56.40 zone, a short-cover bounce off the lows on US-Iran ceasefire hopes and a softer dollar rather than a structural turn. Price still sits well under EMA(20), and the -17% YTD structure has not been broken.
Support: 55.00, 54.77, 50.00
Resistance: 57.85, 60.00
What it said to watch
- Daily close above 57.85 swing high needed to challenge the downtrend structure
- Reclaim of 60.00 psych required to open a larger recovery
- Break of 54.77 ytd low exposes the 50.00 round number
- S&P Global PMIs Fri and continuous Iran ceasefire headlines could shift the read